40K Korean Air SKYPASS Visa Bonus Offer (Targeted)

A 40,000 Korean Air SKYPASS Visa bonus offer is targeted to some people; I recently received this targeted offer in the mail. U.S. Bank issues the card, so if you're in a rut and have already gotten all the Chase, AMEX and Citi signup bonus offers you can get at the moment, this could be a good offer, particularly if you have Ultimate Rewards points that you can supplement the 40K signup bonus with, to redeem for a Korean Air First Class or Prestige Business Class award.

Here are the offer details:

• Earn 40,000 SKYPASS bonus miles after spending $2500 within the first 90 days of cardmembership
• Earn 2X miles on Korean Air Ticket purchases
• Receive 2 KAL Lounge coupons each year
• No foreign transaction fees
• $80 annual fee is NOT waived the first year

Analysis

Prior to Chase 5/24 this would have been a throwaway offer, since you're being charged $80 annual fee even the first year, so you're effectively paying a fifth of a cent per mile ($0.002). There is no reason to get this card if you have more Chase Ultimate Rewards points than you know what to do with, since Ultimate Rewards points transfer 1:1 to Korean Air SKYPASS. 

And in terms of credit card bonuses, if you're eligible for and can get the 100K Chase Sapphire Reserve, that card makes you money in the first year, due to the $600 travel statement credits ($300 credit in 2016, another $300 in 2017) vs. the $450 fee, not even taking into account the 100K Ultimate Rewards points bonus and other benefits. 

Meanwhile, the 60K Ink Plus also does not waive the first year annual fee, but for $15 more, you receive 20,000 more points for the signup bonus, and the 5X categories mean that a variety of spend (cell phone, cable, internet, office supply store spend including Amazon and Whole Foods gift cards) earns you 5X, so $8000 spend will get you 40,000 Ultimate Rewards points that can transfer 1:1 to Korean Air.

That said, if 5/24 is preventing you from getting the Chase credit card signup bonuses you'd like, then this targeted offer, if you receive it, could be useful on future travel, especial to Asia or via Asia.

Korean Air SkyPass Award Chart

One thing to note about Korean Air SkyPass awards is that there are significantly higher prices for “Peak” travel dates, so you'll want to avoid those. The SkyPass Award Chart below lists prices for roundtrip awards. Examples of one way award prices are:

• Korean Air First Class (off peak)  U.S. to Korea, Japan, China or Northeast Asia: 80,000 SkyPass miles one way
• Korean Air Prestige Business Class (off peak) U.S. to Korea, Japan, China or Northeast Asia: 62,500 SkyPass miles one way
• Korean Air Prestige Business Class (off peak) U.S. to Australia or New Zealand via Korea: 120,000 SkyPass miles one way 

Korean Air SkyPass Peak vs. Off-Peak Dates

You'll want to avoid the following peak travel dates for Korean Air Skypass awards, to avoid paying the much higher mileage rates:

Peak Travel Dates for Travel FROM the Americas

• December 9-25, 2016
• May 12-June 30, 2017
• December 8-25, 2017

Peak Travel Dates for Travel TO the Americas

• September 13-19, 2016
• December 21-31, 2016
• January 1, 2017
• January 26-31, 2017
• July 14-August 19, 2017
• September 30-October 10, 2017
• December 21-31, 2017